Abstract: Disclosed is a surge absorber with a side gap electrode and a method of manufacturing the same capable of easily implementing a uniform gap to a thickness of a sheet and making operating characteristics better by forming a gap electrode at a side surface. The surge absorber includes: an element on which a plurality of sheets are stacked; a first electrode pattern having a first gap electrode unit that is formed on the sheet inside the element and is exposed to the outside of the element; and a second electrode pattern having a second gap electrode unit that is formed on the sheet inside the element and is exposed to the outside of the element, the first and second gap electrode units forming a gap to a thickness of the sheet interposed therebetween.